Hi Everyone!Spoiler Alert: I actually surveyed 181 /r/CryptoCurrency Redditors, but a nice round number always sounds better!Last week I posted a short survey to gather some information about /r/CryptoCurrency users that I could turn into some funky graphs. I now have the final results and must say some really surprised me.I'd love to do another one of these again with a larger sample size, so if you have any question suggestions, please drop them below!Q1 - When did you first hear about Cryptocurrency?As you can see from the results above, during 2013 & 2017 (bull market years) there is an increase in users discovering Cryptocurrency. Which makes sense as these are the years where media coverage is at its highest. What surprised me about this result is that I also expected the same for 2020 (or at least a higher result) however this was not the case.Q2 - When did you first invest in Cryptocurrency?As you can see from the above, there is steadily increasing growth (roughly) year on year with the exceptions of 2017 and 2020. This makes sense as these are the years where talk about Crypto & FOMO is at its highest. However I was interested to see that 38% of people surveyed invested in 2020, however less than 1% heard about Crypto for the first time in 2020. Meaning there could be a year/multi year gap between the average /r/cryptocurrency member discovering Crypto & investing in it for the first time.Q3 - Have you ever mined cryptocurrency?I think this one is fairly straight forward, and just about what I was expecting.Q4 - Have you ever staked cryptocurrency?I initially was surprised by this as far more people had staked compared to mining and I personally couldn't remember a time where I had staked Crypto, however I did remember that one of Coinbase Earn's lessons was actually a tutorial where they provide you some COMP for you to stake. This made me realise that it had been so easy, I'd forgotten I'd even done it! - I think that with staking becoming easier and easier and more accessible to the average user, this figure is bound to go up even higher over the next year or so.Q5 - What percentage of your net worth is invested in Cryptocurrency?Interesting to see a more even spread across the board than I originally thought, however I was surprised to see that 12% of users surveyed had 90%+ NW invested in crypto. Best of luck to you all, I hope you all reap the rewards of that commitment!Q6 - What age bracket are you in?If this sample size is reflective of the community as a whole, I'm genuinely shocked that so many users are in the 30-40 bracket. I've always felt that this sub (and space in general) is heavily dominated by 20-30 year olds, however its great to see a much more varied user group. Also shout out to the one 60+ year old surveyed!Q7 - How did you first hear about CryptoCurrency?Looks like over 30% of people surveyed heard about crypto through a friend. This makes sense to me as after mentioning crypto once or twice personally, my friends have often come forward to ask me questions and learn a bit about what Cryptocurrency actually is.Q8 - Have you ever recommended Crypto to a friend or family member?I think this one speaks for itself! Looks like the majority of us love to tell out friends and family about Crypto!Q9 - Where do you see the global Crypto market cap in 5 years?This question was to gauge sentiment on the market as a whole, looks like the results show that we are all overwhelmingly bullish on cryptocurrency, with not a single person surveyed thinking that crypto will fall to 0!Q10 - Do you believe regulation is good for cryptocurrency?I was quite interested to see that so many people surveyed didn't have an opinion on regulation for cryptocurrency. Regulation has seemed to become an increasingly debated topic around here, so its interesting to see so many people yet to have an opinion!Q11 - What do you hold more of, BTC or Alts?Again, this one interested me! When people in the sub ask where to start, I often see a big chunk of people suggesting allocating the largest percentage of your portfolio to BTC. So its really interesting to see such a large proportion of people surveyed have a portfolio that is more heavily weighted with alts.Q12 - What price do you think BTC could reach in the next 12 months?Another market sentiment question, however I do admit I completely forgot to add a sub 50k option, so I unintentionally skewed this whole set of results in a bullish light. Sorry!!Q13 - Have you ever participated in an airdrop?Not too much to say on this one! Great to see so many getting involved in airdrops!Q14 - What would you feel more comfortable investing in? Cryptocurrency or stocks?Not surprised at all by this one, As this survey was conducted in a cryptocurrency sub, I was expecting this to be weighted much more heavily to crypto, I'm sure the reverse would be the result in a personal finance sub!Q15 - Do you think BTC will still have the highest market cap in 5 years?I was really curious about this one and to see how many people thought that BTC might be dethroned as number 1. To be honest I was actually expecting many more people to think that an Alt may be number 1 in a few years, especially as so many here have more skin in alts than BTC!Q16 - Do you trade cryptocurrency?I was really interested to see how many people surveyed actually trade, even if its just rarely! I've always been under the impression this sub is weighted much more heavily towards a buy and hold (HODL) strategy.Q17- Do you hold any DeFi related projects?I'm not surprised to see that so many here hold DeFi projects, with the big DeFi boom over the last year or so its unsurprising that many of us want a piece of the action!The End!I hope that this was informative, I really enjoyed putting this together and I just want to thank everyone who participated! It would be great to get some feedback and question ideas below as I think running another one of these with new questions and a larger sample size would be really interesting.Thanks!-CW
Submitted February 01, 2021 at 05:05PM
No comments:
Post a Comment